New Issue: Morgan Stanley prices $489,000 buffered participation securities tied to S&P

By Sarah Lizee

Olympia, Wash., June 2 – Morgan Stanley Finance LLC priced $489,000 of 0% buffered participation securities due May 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus any index gain, subject to a maximum return of 43%.

Investors will receive par if the index declines by up to 20% and will lose 1% for every 1% index decline beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying index:	S&P 500
Amount:	$489,000
Maturity:	May 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, subject to maximum return of 43%; par if index falls by up to buffer; 1% loss for every 1% index decline beyond buffer
Initial index level:	2,991.77
Buffer level:	2,393.416, 80% of initial level
Pricing date:	May 26
Settlement date:	May 29
Agent:	Morgan Stanley & Co. LLC
Fees:	4.08%
Cusip:	61771BBG8

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